APLS Rule 144 Filing: Cedric Francois Plans Sale of 225,000 Shares

Rhea-AI Filing Summary

Apellis Pharmaceuticals (APLS) Form 144 reports a planned sale of 225,000 shares of common stock through UBS Financial Services on 08/27/2025, with an aggregate market value of $6,462,500. The filing identifies Cedric Francois as the person for whose account the shares are to be sold and notes prior acquisitions by option exercise: 160,037 shares on 02/27/2023 and 74,963 shares on 09/01/2023, both paid in cash. The filing also discloses a sale within the last three months: 159,090 shares sold on 07/17/2025 for $2,540,000. The filer certifies no undisclosed material adverse information is known.

Positive

• Rule 144 compliance: Sale is disclosed with broker, dates, quantities, and acquisition history, supporting regulatory transparency
• Acquisitions paid in cash: Option exercises in 2023 were fully paid in cash, as stated

Negative

• Insider liquidity event: Planned sale of 225,000 shares valued at $6,462,500 may be perceived negatively by some investors
• Recent sale noted: A prior sale of 159,090 shares on 07/17/2025 generated $2,540,000, indicating ongoing insider selling activity

Insights

Financial Analyst

TL;DR: Insider disclosed a sizeable Rule 144 sale of 225,000 shares worth $6.46M; prior option exercises and a recent July sale were also reported.

The filing is a straightforward Rule 144 notice: it documents planned liquidation through a broker and provides acquisition dates and amounts from 2023 option exercises. Material for investor monitoring are the sizes and timing of the transactions: a planned sale of 225,000 shares and a July 17, 2025 sale of 159,090 shares for $2.54M. These disclosures increase transparency about insider liquidity but do not, by themselves, provide information about company performance or fundamentals.

Corporate Governance Expert

TL;DR: The filer appears compliant with Rule 144 disclosure obligations; filing includes standard signer certification about material information.

The document contains the required elements for a Form 144: broker, number of shares, aggregate market value, share class, acquisition history, and recent sales. The signer affirms absence of undisclosed material adverse information and reminds of potential trading-plan representation. From a governance perspective, timely public disclosure of insider sales supports regulatory transparency but does not explain motives or behind-the-scenes arrangements.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common Stock	UBS Financial Services Inc 1000 Harbor Blvd 3rd Floor Weehawken NJ 07086	225000	6462500	125453000	08/27/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common Stock	02/27/2023	Option Exercise	Cedric Francois			160037	02/27/2023	Cash
Commons Stock	09/01/2023	Option Exercise	Cedric Francois			74963	09/01/2023	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Cedric Francois 1212 Castlewood Avenue Louisville KY 40204	Common stock	07/17/2025	159090	2540000

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does Apellis (APLS) Form 144 disclose?

The Form 144 discloses a planned sale of 225,000 common shares via UBS on 08/27/2025 with aggregate market value $6,462,500.

Who is the person selling shares in the Form 144?

The filing identifies Cedric Francois as the person for whose account the securities are to be sold.

What acquisition history is reported for the shares being sold?

The shares were acquired via option exercises: 160,037 shares on 02/27/2023 and 74,963 shares on 09/01/2023, paid in cash.

Has the filer sold shares recently?

Yes. The filing discloses a sale of 159,090 shares on 07/17/2025 for $2,540,000.

Does the Form 144 state any undisclosed material information?

The signer represents that they do not know of any material adverse information about the issuer that has not been publicly disclosed.